The African Democratic Congress on Thursday criticised President Bola Tinubu’s administration over its fresh ₦1.15tn domestic borrowing approval, accusing the government of “reckless debt accumulation wrapped in propaganda.”

The criticism, contained in a statement issued by the party’s National Publicity Secretary, Bolaji Abdullahi, came barely 24 hours after the Senate approved Tinubu’s request to raise the fund from the domestic market to finance the remaining shortfall in the 2025 national budget.

The ADC described the borrowing as “a contradiction of Tinubu’s own claims” that Nigeria had met and surpassed its non-oil revenue targets, reportedly generating ₦20.59tn in the first eight months of 2025.

“The latest approval by the National Assembly of ₦1.15tn in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration,” the statement read.

“Only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets. Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction,” Abdullahi added.

The opposition party warned that if all of Tinubu’s loan requests for 2025 were approved, Nigeria’s total public debt could rise by ₦40.61tn to a staggering ₦193tn, citing verified figures from the Debt Management Office.

“A government that claims to have hit record-breaking revenue should not be borrowing. The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about fiscal prudence,” the statement continued.